Amazon launches virtual currency with giveaway

Amazon has launched Amazon Coins, its own virtual currency, and has given US Kindle Fire customers 500 coins for free. This is the equivalent of USD5 per customer and amounts to tens of millions of dollars overall. The exchange rate on Amazon Coins is USD1 for 100 Amazon Coins, however purchasing coins in bulk can provide users with discounts.

With neither Apple nor Google releasing a virtual currency it is unclear whether Amazon Coins will take off. It is thought that Amazon, via virtual cash, is trying to achieve its goal of improving digital content sales.